Keeping up with the rapidly growing and changing dynamics of the Web3 world requires a strong infrastructure. This is where AltLayer comes into play. For those wondering what AltLayer is, in this article we will explore the innovative solutions offered by AltLayer and the difference it makes in blockchain technology. Developed to increase transaction speed and maximize security, how does this protocol strengthen basic elements such as decentralization and interoperability? Read on to find the answers to these questions!
AltLayer Coin Project
AltLayer was developed to accelerate scaling for web3. It is an open source and decentralized protocol for rollups, a method that increases transaction speed by moving transaction data off the main blockchain. AltLayer introduces the idea of Retake rollups, which provide enhanced security, decentralization, interoperability, and crypto-economic rapid finalization for rollups such as OP Stack, Arbitrum Orbit, Polygon CDK, ZK Stack, and more.
AltLayer is not just designed for developers. Even those with little or no coding experience can create a customized rollup in just 2 minutes with just a few simple clicks. With AltLayer’s innovative solutions, developers can save time and money while improving application performance.
The AltLayer coin project can basically be explained this way. Now we can start to give details about this project by addressing the question “What is Altlayer coin?”
What is ALT Token?
ALT token is the native cryptocurrency of the AltLayer project. Considering that AltLayer is built on Ethereum, ALT is not a coin, but a token. ALT token was created for several purposes.
ALT token holders can stake their tokens to participate in the consensus mechanism and secure the network. In return, they will be rewarded. Again, ALT token holders can have voting rights in the development of the protocol and management of operations.
In addition to all this, transaction fees, storage fees and other services in the AltLayer ecosystem are covered by ALT tokens. Operators can even receive a portion of these tokens as a reward as an incentive. When we look at “How much is the AltLayer coin supply?”, we see that this figure is limited to 10 billion.
When Will AltLayer Coin Be Unlocked?
The first AltLayer Coin unlock date was July 25, 2024. AltLayer has announced that it will take a 6-month pause after this first unlock date. This means that there will be no new unlocks between July 26, 2024 and January 24, 2025. The next AlLayer coin unlock date will be January 25, 2025.
How Does SubLayer Work?
We mentioned Restake rollups developed by AltLayer. These rollups leverage EigenLayer’s Restake system, which gives developers access to Ethereum’s staked capital base and decentralized validator set, to develop blockchain rollups. This is exactly how decentralization, security, interoperability, and efficiency are increased.
These rollups use three Actively Verified Services (AVS):
- VITAL (Decentralized Verification): Ensures that rollups work correctly and that there are no errors or frauds through verification by community members. Different techniques are used in this verification process, such as fraud proofs and ZK proofs. In this way, rollups provide the highest level of security.
- MACH (Fast Finality): With the MACH feature, transactions are finalized, or confirmed, much faster. This means that transactions are completed in less than 10 seconds instead of 13 minutes. This speed increase allows different rollups to work better with each other and adds additional layers of verification that increase the security of the system.
- SQUAD (Decentralized Queuing): SQUAD prevents the system from becoming clogged or corrupted at a certain point by involving the community in the ordering of transactions. This decentralized approach encourages greater use of rollup tokens and reduces the likelihood of transactions being censored.
Together, these services create a more secure, efficient, and community-driven rollup system that aligns with AltLayer’s vision of a decentralized and collaborative blockchain ecosystem. For more information, check out the AltLayer whitepaper.
Who is the Founder of AltLayer?
AltLayer was founded in 2021 by Yaoqi Jia. Yaoqi Jia started his career as a director at Parity Technologies, which aims to help businesses and organizations benefit from blockchain technology, and continues his role as a consultant today. Jia, who was selected to the Forbes 30 Under 30 Asia list in 2019, both founded and served as CTO of Zilliqa, a high-performance, high-security blockchain platform for businesses and next-generation applications.
Jia, who was a Research Assistant at the National University of Singapore before 2018, obtained his PhD from the School of Computer Science, NUS in 2017. His research interests include blockchain security, distributed system security, web security/privacy, and network security.
The Future of AltLayer Coin
AltLayer can play a leading role in the evolution of blockchain technology in the future with its innovative approach to solving scaling issues in the web3 world. Especially its open-source and decentralized protocol for rollups can be quickly adopted by developers and users. AltLayer’s Retake rollup idea provides more advanced security, decentralization and interoperability compared to existing solutions. This can make it a preferred choice for blockchain projects in the future.
One of the most notable aspects of AltLayer is that it offers a solution not only for experienced developers but also for users with no coding knowledge. The ability to create a customized rollup in just a few minutes could help AltLayer gain a larger user base in the future. This convenience could encourage blockchain technology to become more accessible and used by more people.
The future potential of AltLayer is not limited to speed and efficiency. This project also has great advantages in economic terms. Thanks to the RaaS model, projects can be implemented quickly with less capital and time. This feature can make it an innovation center and ensure its continuous growth in the blockchain ecosystem. The future of AltLayer coin can be summarized as follows.
Which Exchange to Buy ALT Coin?
If you are considering buying AltLayer, it is important to choose a reliable and user-friendly cryptocurrency exchange. At this point, ICRYPEX stands out for being able to buy AltLayer. With its large user base, high security standards and fast transaction processing capacity, ICRYPEX is ideal for trading hundreds of cryptocurrencies as well as AltLayer. You too can own AltLayer tokens in just a few steps and diversify your investment portfolio thanks to ICRYPEX’s user-friendly interface.
